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Understanding EV vs Gas Vehicle Cost Comparison
Formula
Electric vehicles are significantly cheaper to fuel than gas cars. At average US prices, driving 12,000 miles costs about $1,680 in gas (25 mpg, $3.50/gal) compared to $445 in electricity (3.5 mi/kWh, $0.13/kWh) — saving over $1,200 per year.
Beyond fuel, EVs have lower maintenance costs due to fewer moving parts, no oil changes, and regenerative braking that extends brake life. Total cost of ownership is often lower even with a higher purchase price.
Common use cases:
- Evaluating EV purchase decision
- Calculating long-term savings
- Environmental impact comparison
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